Flipkart is an electronic ecommerce company that’s headquartered in Bengaluru, India. It was founded 10 years ago and is now estimated to worth in excess of $11 billion. Part of the company’s success comes from that of the work of data scientists giving real-time insight as to what is trending throughout the whole of India and what people are spending their money on. The company is also proud to own an in-house built technological platform that utilizes analytics to reveal patterns, and insights from large amounts of data.
Flipkart is a big fan of technologies involving artificial intelligence (AI), particularly machine learning, to better understand and predict their consumer’s buying behaviors. The company has a registered user database of more than 100 million, and every time any of them access the homepage via channels such as web, mobile app, or desktop, the customer is analyzed to identify certain elements including their age and gender. “We have machine learning based techniques to (predict) the content the customer is most likely going to click on,” said director of product at Flipkart, Vikram Sharma.
The company is hopeful that by using these kinds of technologies they will be able to compete more with the likes of online retail giant, Amazon. Already the company’s expected growth is predicted to be around 30% through to 2027, reaching a healthy $200 billion in gross merchandise value. Earlier this year the company reported to have in excess of $4 billion in cash.
Right now the company is focusing on penetrating deeper into the Indian market and it’s because of AI and ML based techniques that they’re making such a success of it. These techniques allow the firm to understand what customers really want. Another recent announcement from Flipkart comes in the form of an AI-based conversational search experience called Mira. This innovative tool enables the firm to talk to their customers as they shop. It can give shoppers tips, show them offers, and make relevant recommendations.
Ram Papatla is vice president of product management at Flipkart. When he was asked how the company ensures its customer’s personal data and financial information is protected, he said the company takes a lot of care in this area and that all data is obfuscated when it’s stored. “We treat our customer data with white gloves,” Papatla commented.
Original source The Hindi